Donald Trump's net worth fell below $3 billion, and Bloomberg laid the blame on 3 buildings in New York, including Trump Tower in Midtown Manhattan, which did not reach the estimated targets. The office properties of Donald Trump are not generating as much cash as the banks that lent him money had expected.

Trump's net worth slips to $2.9 billion

According to the recently updated calculations, which puts the president's net worth down at $2.9 billion from $3 billion, is based on data from mortgage documents, market data, creditors, a disclosure of financial information and annual reports since June 15, generated by the Bloomberg Billionaires Index.

The company’s controller, Jeffrey McConney, and Allen Weisselberg, chief financial officer of the Trump Organization, didn't reply to emails detailing the methodology of Bloomberg. A White House spokeswoman, Hope Hicks, did not reply to the emails.

Three office properties combined value down by $380 million

The fall happened due to the decrease in value of Trump's three office properties in Manhattan, New York, where Trump's lender checked a financial data to provide an accurate picture of data. 40 Wall Street, Trump Tower, and 1290 Avenue of the Americas building, a building where Trump holds 30% stake, are the victims of the decline.

Bloomberg said glimmering new buildings are attracting people and demand for flats in vintage premises is falling.

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The current value of those three buildings has been calculated and revised down by a combined $380 million.

Trump called $3 billion figure 'a stupid report'

Even after holding the Oval Office responsibility, Trump hasn't lost his interest in his companies. Instead, he gave the holdings of the Trump Organization to his adult sons, Donald Jr. and Eric, and Weisselberg.

Trump wouldn't agree with the Bloomberg report. Earlier in 2015, when he was running for president, his campaign issued a document in which his net worth was $8.7 billion. He was not surprised and called the $3 billion figure "a stupid report." Later, he repeatedly said he had worth more than $10 billion.

Trump’s brand value differs greatly from Bloomberg’s esteems. According to the data from 2015, Trump’s ability to license his name and property is worth $3.3 billion. Bloomberg estimates the value of $35 million from sales and deals. That value stayed same after getting the Republican nomination, which Donald Trump won last July.

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